INNERCITE_LIMITED - Accounts

INNERCITE LIMITED - Company Information

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Company Registration No. 08118892 (England and Wales)

INNERCITE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

INNERCITE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

INNERCITE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

3,239

3,699

Current assets

Stocks

4,973

1,748

Debtors

766

12,000

Cash at bank and in hand

16,511

22,250

13,748

Creditors: amounts falling due within one year

(17,219)

(14,134)

Net current assets/(liabilities)

5,031

(386)

Total assets less current liabilities

8,270

3,313

Capital and reserves

Called up share capital

100

Profit and loss account

8,170

3,213

Shareholders' funds

8,270

3,313

For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 March 2015

Mr Philip Bergkvist

Director

Company Registration No. 08118892

INNERCITE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% depreciation on a reducing balance basis

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

Fixed assets

Tangible assets

Cost

At 1 July 2013

4,932

Additions

620

At 30 June 2014

5,552

Depreciation

At 1 July 2013

1,233

Charge for the year

1,080

At 30 June 2014

2,313

Net book value

At 30 June 2014

3,239

At 30 June 2013

3,699

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary A Share of £1 each

100